are doubled now, right?
I am officially never going back to school.
Does this affect anyone here?
I was wondering what happened with that. I see that the rates indeed did double today. Lovely. Very bad for students.
My oldest is starting school in the Fall. Yeah... I'm not thrilled the interest rates on the loans went from 3.4% to 6.8%. Thankfully, she doesn't have to take out a huge amount.
My daughter will be a senior in September, so I have one year to figure it out. I hope things will change, but if we have to borrow some to get my daughter through school, we'll do what we have to.
Quoting Mommy_of_Riley:I though past loans were locked in and couldn't be raised....
Only the new loans are at 6.8% right?
Or am I just confused...
yes, so if I want to get a loan to go to school now, the interest rate on it wil be 6.8% which is ridiculous, especially for someone already raising a kid.
No, if you didn't lock in the unsubsidized ones they could be as well. It has been 6.8% on those for a while though so I am not sure if they are higher. Those are always higher in interest that the subsidized ones.
Yikes. Maybe this will help keep some people from getting themselves in a financial fix though. So many people have huge student loans and it really messes with their lives.
Connect with CafeMom:
Switch to Mobile Site
Getting Started Guide
Frequently Asked Questions
Part of the CafeMom family of sites
© 2014 CMI Marketing, Inc. All rights reserved.